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New FAQ Page for IRS 1099-K

The Internal Revenue Service (IRS) has posted a Frequently Asked Question (FAQ) on Form 1099-K and reconciliation, and will not require reconciliation of gross receipts and merchant card transactions on business tax returns going forward.

On Feb. 10, the IRS amended its informational webpage on credit card reporting requirements to announce that the IRS will not require reconciliation of gross receipts and merchant card transactions on Forms 1120, "U.S. Corporate Income Tax Return," and other business income tax forms. The Housing Assistance Tax Act of 2008 requires credit card companies to report merchants’ annual gross credit, debit, and third party network payment card transactions to the IRS using Form 1099-K. The National Small Business Association (NSBA), Arizona Small Business Association (ASBA), and other small business groups had expressed concern about the burdens and costs associated with reconciling discrepancies between their own sales records and the Forms 1099-K issued by credit card processors. The Feb. 10th IRS announcement directly addresses these small business concerns.

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CopperPoint...at work for you

CopperPoint delivers peace of mind to Arizona employers and their employees. We are the state's premier provider of workers compensation insurance, serving Arizona businesses, small and large, since 1925.

Speakers Form

ASBA is on the cutting-edge of what is happening right now in the business community. We are looking for dynamic speakers to present inspiring and relevant content at future events. If you or someone you know is experienced capturing a crowd and delivering insightful information on sales, marketing, HR, finances, or other topics we invite you to share your knowledge and apply today. We are your partner in business.

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ASBA Speed Networking

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Affordable Dental Plans for ASBA Members

Your smile deserves Delta Dental, the nation’s leading dental benefits provider. With the largest network of dentists, personalized service & special pricing for ASBA members, we make it easy to keep your smile healthy.

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Small is the New Black

What's trending for 2017? Small Business! This year, resolve to support our local economy by "Thinking Small" at least one time each week! Need help finding a small biz? Visit ThinkSmallBizAZ.com! #ThinkSmallBiz